Registered number
08880884
Globe Backpackers Limited
Unaudited Filleted Accounts
31 July 2023
Globe Backpackers Limited
Registered number: 08880884
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 18,865 18,652
Current assets
Debtors 4 55,603 46,149
Cash at bank and in hand 1,779 9,440
57,382 55,589
Creditors: amounts falling due within one year 5 (27,929) (19,811)
Net current assets 29,453 35,778
Total assets less current liabilities 48,318 54,430
Creditors: amounts falling due after more than one year 6 (10,268) (15,867)
Provisions for liabilities (3,584) (3,545)
Net assets 34,467 35,018
Capital and reserves
Called up share capital 2 2
Profit and loss account 34,465 35,016
Shareholders' funds 34,467 35,018
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs C Heaton
Director
Approved by the board on 19 March 2024
Globe Backpackers Limited
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Debtors/creditors receivable/payable within one year
Debtors and creditors with no stated interest rate receivable and payable within one year are recorded at the transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2022 13,658 13,582 27,240
Additions - 1,515 1,515
At 31 July 2023 13,658 15,097 28,755
Depreciation
At 1 August 2022 - 8,588 8,588
Charge for the year - 1,302 1,302
At 31 July 2023 - 9,890 9,890
Net book value
At 31 July 2023 13,658 5,207 18,865
At 31 July 2022 13,658 4,994 18,652
4 Debtors 2023 2022
£ £
Other debtors 55,603 46,149
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,908 5,600
Trade creditors 374 303
Taxation and social security costs 21,590 13,908
Other creditors 57 -
27,929 19,811
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 10,268 15,867
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Interest charged on loan at HMRC official rate and is repayable on demand 40,300 59,956 (50,466) 49,790
40,300 59,956 (50,466) 49,790
8 Other information
Globe Backpackers Limited is a private company limited by shares and incorporated in England. Its registered office is:
25 Bonhay Road
Exeter
Devon
EX4 4BP
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